Cryptocurrency market reaches $160 billion total value for the first time

With its continuous noise, positive performance in the market, cryptocurrency has reached an all-time total value.

In fact, the global cryptocurrency market has exceeded a value of $160 billion for the first time. Top performer in the market includes Bitcoin, Ethereum, and Bitcoin Cash are leading the massive value.

Photo via Bitconnect

Tracing the market, it is notable that its performance in the first quarter of 2017 a huge uptick, starting out at $10 billion. It blooms with fantastic performance and hitted $100 billion value in June.

Global market analysts has boiled down one of the reason why its reaches the figure, -the Bitcoin.

The world’s famous cryptocurrency, definitely and obviously has a big role to play in this success — it’s still the biggest name in cryptocurrency, and experts predict that it could hit a value of $20,000 in the next three years.

Also, analysts sees the great contribution of its recent fork Bitcoin Cash which is establishing itself rapidly, and the increasingly-popular Ethereum.

With the numbers and continuous popularity, it is considered a very interesting time for the cryptocurrency market.

One of the recent developments are the passive actions of countries like Estonia consider offering their own tokens, and the US Congress drafts a bill that could foster its mainstream usage.